Platinum Likely to Top $1,500

Mine Mishaps Mean
South Africa Output
To Be Below Forecast

By

Devon Maylie

Updated Oct. 31, 2007 12:01 a.m. ET

LONDON -- Increasing safety concerns at platinum operations in South Africa, the world's largest producer of the metal, are likely to raise prices to records above $1,500 a troy ounce before the end of the year, industry experts say.

Production has suffered as accidents resulting from ever deeper operations forced mine closures, and both traders and companies predict 2007 output will fall short of expectations. This would have serious...